All of the articles that I read pertaining to their sell-offs also mention that they will be consentrating on the HS. Sounds like they are trying to keep as much of the good stuff as they can. At least that is the way I see it through my rose colored glasses.
Jim, I have seen title problem that go back a 100 years. Imagine a tract of land that was bought in 1905 by a farmer. Now he has over 80 decendents who do not know each other. They were to poor to do a formal succesion.
Anyone in the oil and gas buissness has seen tracts like this.
I'm sure you have.
I don't think the others not in the buissness know how big of a mess this is. How long it takes to figure it out. I know of landmen who have spent more time in the geneology section of sheve memorial than the courthouse.
We in LA are lucky. Most NW LA courthouses have good records. Can I get a amen from those poor basterd working in AR? In arkansas, the records are so bad, private companies (abstract plants) specialize in providing title info to the landmen.
Jim and Baron are correct. Some of these Sections are going to be nightmares. Title attorneys are shaking their heads at some of the issues we have and are about to face.
The outlay and expense for this research is real. Title is title, unless its not there (in the succession situation and many others). You can do curative on anything, but you need a pretty good band-aid on some of these tracts when bonuses and the production potential are this high. And the traditionally productive areas in NW LA are not impossible, but time intensive (as stated above) w/o a former opinion.
As exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More